Changzhou has recently unveiled its innovative Policy 2.0 aimed at furthering its innovation capacity. This new policy builds on the success of its Policy 1.0, which was launched in February 2021 and has so far granted subsidies totaling one billion yuan to eligible local companies and outside talents.
The Policy 2.0 is designed to entice and retain high-level professionals, as well as to support research and development efforts by local enterprises, colleges and institutions.
For instance, newly recruited professionals with full-time bachelor's, master's or doctoral degrees who have been paying social insurance premiums in Changzhou for at least six months can receive a one-time subsidy of up to 300,000 yuan, provided they purchase their first property locally within three years of starting work in the city.
In addition, newly assessed high-tech enterprises will receive a reward of 200,000 yuan, while those assessed for the second time will be awarded 100,000 yuan. Colleges that are newly approved to offer first-class doctoral degree programs will receive an award of up to 10 million yuan. Similarly, new-type institutions will receive financial aid of up to 3 million yuan, depending on their research field, investment scale, talent team, innovation output and total revenue.
These incentives are expected to continue promoting Changzhou's innovation-driven development, pro-business environment and talent-friendly atmosphere. With this policy, Changzhou aims to become a hub for innovation and a magnet for talented professionals from across the globe.
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